Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 116,738 shares of the textile maker’s stock after acquiring an additional 7,657 shares during the quarter. Empowered Funds LLC’s holdings in Skechers U.S.A. were worth $7,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Creative Planning raised its holdings in Skechers U.S.A. by 15.7% in the 2nd quarter. Creative Planning now owns 9,504 shares of the textile maker’s stock worth $657,000 after purchasing an additional 1,292 shares during the period. Cetera Investment Advisers raised its stake in shares of Skechers U.S.A. by 32.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker’s stock worth $1,729,000 after buying an additional 6,193 shares during the period. CWM LLC lifted its position in shares of Skechers U.S.A. by 4.4% during the 3rd quarter. CWM LLC now owns 10,637 shares of the textile maker’s stock valued at $712,000 after buying an additional 451 shares in the last quarter. UMB Bank n.a. grew its stake in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares during the period. Finally, Gateway Investment Advisers LLC increased its holdings in Skechers U.S.A. by 107.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 6,838 shares of the textile maker’s stock worth $458,000 after acquiring an additional 3,543 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Trading Down 1.4 %

SKX opened at $65.09 on Tuesday. The stock has a market capitalization of $9.83 billion, a PE ratio of 15.68, a P/E/G ratio of 0.95 and a beta of 1.19. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The business’s 50 day moving average price is $70.55 and its 200 day moving average price is $66.50.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. As a group, equities research analysts expect that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SKX shares. Raymond James decreased their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday. TD Cowen boosted their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, UBS Group cut their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.